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Fannie and Freddie Bailed Out
| Posted Monday, September 08, 2008 in Financial |
 What an exciting day on the market - the US banking sector put the words economy on its head. It has been confirmed that the government will bail out Fannie Mae and Freddie Mac - costing us over 100 billion dollars. Both FRE and FNM dropped to below a dollar today - simply devastating. This was good news for the entire banking sector, as they can dump bad mortgages to these companies and move on. WaMu stocks dropped today, surprisingly, with this news - I believe its because they own so much stock in both these companies. Late last night there was a Wall Street Journal leak saying that WM's CEO was fired - I great decision if you ask me. I picked up more shares today when they dropped to 3.60, and by the end of the day it was already up to $4.12. I can't wait till this stock gets close to other 6's so I can cash out and start day trading more. Fannie and Freddie Bailed Out |
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Ryan never knew a love like this.
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